Prime Minister Xavier Bettel of Luxembourg, left, with Chris Larsen, Ripple co-founder and CEO, and Karen Gifford, Special Advisor for Global Regulatory Affairs for Ripple.
Just a few months after the grand opening of our London headquarters, Ripple is excited to announce that we are expanding our European presence with an office in Luxembourg. Evan Schwartz, engineer and co-architect of the Interledger Protocol (ILP), will be relocating to manage this location and lead the hiring efforts in the coming months.
Luxembourg ranks as the No. 1 investment fund center in Europe—second worldwide behind the U.S.—and is making a concerted effort to attract fintech companies and talent. After a visit to Ripple’s San Francisco headquarters, Luxembourg Prime Minister Xavier Bettel commented, “Luxembourg has always been innovative. This is what made us one of the leading banking centers in the world.”
“Innovation and creative thinking is what is needed in the financial sector as it is in other business areas where Luxembourg is developing new activities. The IT sector is a key element of our strategy and fintech holds huge promises for innovation and growth in Luxembourg,” he said.
With this expansion, we continue to invest in driving industry standardization of ILP: the open, neutral protocol that makes payments across different ledgers and networks instant and atomic. Luxembourg has a great reputation internationally for neutrality and is embracing new financial technologies to modernize its banking infrastructure.
Today, the majority of our current customers and partners are based in Europe, such as Santander and Fidor Bank, and we continue to see strong customer interest regionally for cross-currency settlement solutions.
Ripple now adds Luxembourg to its list of offices in five locations across the world, including San Francisco, New York, London and Sydney to serve its dozens of bank customers globally. We also recently partnered with SBI Holdings, Inc. to create SBI Ripple Asia serve the financial services markets in Japan, China, Taiwan, Korea and other ASEAN countries.